XYO-Decentralized Crypto-Location Oracle Network

Statistics show that almost half the world's population works, with many large companies, or organizations that absorb thousands of these populations. Speaking of government agencies employing civilians, they are seen as the largest employers in many countries in the world. How do these agencies store information related to workers such as their CVs, paychecks, etc.? Countless number of printed papers used to store this important information, which in the worst case scenario, can be destroyed if not stored properly. The best case scenario, this information can be lost, with improper storage. Over the years, many of these companies that have adopted this information storage on computers or centralized storage online, this is good, but it has its disadvantages: if centralized storage has an infection or virus error, all data is lost without recovery. This centralized storage does not support effective data sharing without altering data security. So they must be printed and handed over to each worker by hand for confirmation and signing.

Organizations that absorb thousands of workers can not pay salaries to workers so they use intermediaries like banks to pay workers. Bank fees are very high per worker is paid. Sometimes workers wait a long period of time before the payment reaches them. Workers are paid in fiat currency that continues to depreciate in value and are subject to inflation. Worker accounts in banks are also subject to monthly deductions as bank fees for savings. Individuals do not have full control over their funds.

Solution
The solution to the above mentioned problem is blockchain technology as it provides the means to store complex information or digital ledgers in a decentralized way that opens up a way of validating information. It also allows sharing of peer-to-peer information without compromising the security of the data being shared.

What is XYO Network?

This project is the first decentralized blockchain platform ever that may be fully trusted by users; it is guaranteed with location proof network. The main goal of the project is to build a decentralized platform which will eliminate the vulnerability of the platform so that it could confront any sort of attack. This leads to a great extent of assurance in all the available data. The organization obtained this result through a set of distractions which diminish the danger of tracking the position of a user.

The XYO sees the issue in confidence of the data and in the absence of decentralized systems. Such networks, as Ethereum, were adopted broadly by developers of location applications because of their ability to intercede coordination securely in an online mode but none of these developers used them to apply it to a real world because of the corrupted data.

How XYO works?

It solves the problem of an absence of a decentralized system by constructing a layered location authentication service which may be exploited by a range of different devices and gadgets through smart contracts. It is based on a number of unique mechanisms of cryptography — Proof of Origin and Bound Witness.
The Network is composed of four primary components, such as Sentinels, Bridges, Archivists and Diviners:

• The goal of the first element is to collect the information about the position, environment etc, and stock this information in a ledger. It is important that these ledgers are trusted and recognized by other components of the platform. This result is obtained by giving a reward to a Sentinel if its info answered a query. To boost the chances of receiving a reward, they must provide the system with ledgers consisting of accurate information.
• The second component receives data from Sentinels, and then safely transports it to an Archivist. The third component can be confident that received information is certain and that it wasn't modified or changed.
• The third component stocks the info transported by the second element. The information reserved by the third component consists only of raw info. The preservation of the information is free of charge, fees are taken only for retrieval of the data and its use.
• The fourth component's main goal is to select the most accurate information from the XYO Network and to answer a query with the help of it.

So how someone can benefit from using XYO? For example, when a user of this network commits a request to find out whether an order was delivered to a client, he achieves accurate information given by The Network. Using ordinary applications that rely on the centralized data may be potentially unreliable, while XYO analyzes all the location data and chooses the best answer based on the accuracy of the provided info.

WHY BLOCKCHAIN

To reduce data corruption and spoofing, the data collected by these devices will be stored in the blockchain network because the data in the blockchain can not be changed or deleted.

XYO TOKEN

The purpose of the XYO Token (XYO) will be so that smart contract developers can use it to access geo-location verification from the real world.If you have a smart contract on the XYO Network, like for example if Amazon used it with their packages to take payment on delivery of items, then they would need XYO tokens for their smart contract to make contact with the IoT devices. This means the more usage there is of the XYO Network, the more tokens will be used. Token details are as follows:

Roadmap

Team

For more information about XYO Network Project please visit:
🌐Website: https://xyo.network/
📃Whitepaper: https://xyo.network/whitepaper
📱Facebook: https://www.facebook.com/xyonetwork
📲Twitter: https://twitter.com/XYOracleNetwork
💻Telegram: https://t.me/xyonetwork
🕵ANN Thread: https://bitcointalk.org/index.php?topic=3040825
🕵Bounty Bitcointalk: https://bitcointalk.org/index.php?topic=3053801

Author: tommisetiyawan
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1930443
Eth Address: 0x851db1653D006AaC0fB4fa19cE826b2a135600ff